7Aug

COMEX MARKET IN MALAYSIA | GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices hovered near a 17-month low on Monday amid lingering worries over the U.S.-China trade conflict, while a stronger U.S. dollar also put pressure on the yellow metal. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange fell by $0.9, or 0.07%, to $1,224.4 a troy ounce by 1:50AM ET (05:50 GMT). Chinese authorities announced on Friday that it would impose tariffs, ranging from 5% to 35%, on $60 billion in U.S. goods that include many agriculture-related goods if the U.S. proceeded with placing more tariffs on Chinese imports.
  • Oil prices rose on Monday after Saudi crude production registered a surprising dip in July and as American shale drilling appeared to plateau. Markets also anticipated an announcement from Washington later on Monday on renewed U.S. sanctions against major oil exporter Iran. So-called “snapback” sanctions are due to be reinstated at 12:01 a.m. EDT on Tuesday, according to a U.S. Treasury official. Spot Brent crude oil futures were at $73.42 per barrel at 0653 GMT on Monday, up 21 cents, or 0.3 percent, from their last close.
  • For decades, the Friendship pipeline has delivered oil from Russia to Europe, heating German homes even in the darkest days of the Cold War. But a new pipeline that will carry gas direct from Russia under the Baltic Sea to Germany is doing rather less for friendship, driving a wedge between Germany and its allies and giving Chancellor Angela Merkel a headache. For U.S. President Donald Trump, Nord Stream 2 is a “horrific” pipeline that will increase Germany’s dependence on Russian energy.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Indonesia handed over to Malaysia on Monday a $250 million luxury yacht, impounded earlier this year as part of an international hunt for assets purchased with billions of dollars allegedly siphoned off from state fund 1Malaysia Development Bhd. Malaysia’s Prime Minister Mahathir Mohamad thanked Indonesian President Joko Widodo, in a video posted on his Facebook (NASDAQ:FB) page, for facilitating the yacht’s handover.
  • The Shanghai head office of China’s central bank has levied a fine of 4.12 million yuan ($601,846) on Alipay, the online payment platform of Ant Financial, for violating regulations on payment services, the regulator said on Monday. It gave no other details.
  • More than five years into a radical plan to boost the world’s third-biggest economy, the Bank of Japan sent a message of quiet surrender last week, admitting it couldn’t stoke inflation and walking back steps intended to do so. The man leading the BOJ away from its program of unprecedented asset-buying and low or negative interest rates is the man who largely crafted the measures in the first place, bank deputy governor Masayoshi Amamiya. A fan of classical music who has recently begun to favor Russian composers, Amamiya “plays the piano, guitar and flute well,” says a person who has known him for decades.

GOLD TRADING FORECAST TODAY

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